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Haringey Council is coming under political pressure to rethink its planned £2bn development joint venture with Lendlease.

Above: Tottenham MP David Lammy

In particular, there is concern about the Labour council privatising its housing stock.

The London borough confirmed the selection of Lendlease last week as its preferred partner in its Haringey Development Vehicle. A final decision on whether to establish the Haringey Development Vehicle is expected to be made by the council’s cabinet in the summer 2017.

The council has a 20-year vision to regenerate the borough, with the council providing the land and Lendlease building 5,000 new homes on it, with all profits split 50:50.

However, there is disquiet in some corners that the partnership will not build any council housing and all the existing stock will be handed to Lendlease as part of the deal.

However, local Tottenham MP David Lammy has spoken out against the plan. “In recent months many constituents, local Labour Party members, community organisations and trade unions have raised concerns about the Haringey Development Vehicle (HDV) with me. I share many of these concerns, and have raised them with the council chief executive and council leader both in writing and in person on a number of occasions,” he said.

“I am particularly concerned about the affordability of the new homes that the HDV will deliver; the bidding process and choice of a private partner; the employment practices of the preferred bidder Lend Lease and the need for more thorough consultation with Haringey residents.

“I have serious concerns about the significant financial risks that a development of this scale involves, and the lack of oversight and scrutiny of the process so far – issues that were raised by the Haringey Council overview and scrutiny committee last month.

“I also want to make my position absolutely clear on current residents that will be affected by the HDV: the council must guarantee that current residents will have the right to return to their homes on the same terms as they currently live following any redevelopment that takes place under the HDV.

“Despite the huge challenges that Haringey Council faces in terms of funding and budget cuts, it is essential that our local authority is able to deliver high-quality genuinely affordable homes; mixed, safe communities; and jobs for the residents of Haringey. This, however, must not come at the expense of the people of Haringey, and the council must not pursue a policy of this nature and on this scale without scrutiny, oversight, consultation and guarantees to mitigate the financial risks to local taxpayers.”

The council has promised “to do its utmost to rehouse any existing council tenant currently in a home proposed for redevelopment who wants to stay in a new home in the same area, at the same rent and terms, as it already has on other estates across the borough”.

It added: “If the HDV is agreed by the council, there will be extensive consultation with all residents and businesses directly affected by the proposals, to ensure both that they help shape the plans and that they understand their rights and options as those plans are implemented.”